Seems that a lot of people on this board who are conservative have been screaming at the top of their lungs that Obama is going to ruin oil production.

Well..................guess what..............................

U.S. oil output is poised to surpass Saudi Arabias in the next decade, making the worlds biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.

Growing supplies of crude extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about five years starting about 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook. The U.S. met 83 percent of its energy needs in the first six months of this year, according to the Energy Department in Washington.

The IEA outlook feeds into the idea of a shift in the center of influence in the world oil market, said Gareth Lewis-Davies, an analyst at BNP Paribas SA in London. Given Saudi Arabia is willing to shift production up and down it will retain a large degree of influence, and remain important as a price-influencer.

And that's not all..................we're fixing to overtake Russia in production of natural gas.

A surge in unconventional supplies will see the United States overtake Russia as the worlds biggest natural gas producer in 2017, but it will still need imports to feed a voracious appetite, the International Energy Agency (IEA) said on Tuesday.

A rapid rise in production of shale gas and oil trapped in difficult reservoirs has revolutionized the industry of the worlds top fuel consumer, turning it from the biggest gas importer to a potential exporter and reducing its dependency on expensive crude shipments.

Despite low gas prices that have slowed the pace of drilling somewhat, the momentum of the shale gas boom led to the United States adding production equivalent to half the annual shipments of top liquefied natural gas (LNG) exporter Qatar in 2011, and it could soon overtake Russia as top producer.

The United States is forecast to be one of the largest sources of incremental supply to 2017, where gas production continues to boom despite a difficult gas pricing environment... putting the United States slightly ahead of Russia, the IEA said in a report issued on Tuesday.

High oil prices, driving the production of gas associated with light tight oil extraction, combined with substantial domestic consumption and new international opportunities, are expected to underpin continued expansion of U.S. gas production over the period.

The IEA expects total U.S. gas production to rise from 653 billion cubic meters (bcm) in 2011 to 769 bcm in 2017, while Russian gas output is expected to rise from 659 bcm last year to 757 bcm over the period.

It's been accomplished with the input of private capital, risk, ingenuity, and technology.

Can you tell my why Obama has $40 billion in oil and gas taxes waiting in his budget?

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He's got the oil and gas companies working better than they did under Jr.

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How has "he" accomplished this? I honestly don't see it.

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If you're gonna jump all over him and say that his policies caused the price of gas to go up, then you've also got to acknowledge that his policies are responsible for the increase in production of oil and natural gas.

But.............like I said...............it's much better under Obama (who isn't an oil man) than it ever was under Jr. (who WAS an oil man).

He's got the oil and gas companies working better than they did under Jr.

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How has "he" accomplished this? I honestly don't see it.

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If you're gonna jump all over him and say that his policies caused the price of gas to go up, then you've also got to acknowledge that his policies are responsible for the increase in production of oil and natural gas.

But.............like I said...............it's much better under Obama (who isn't an oil man) than it ever was under Jr. (who WAS an oil man).

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No, I've never even insinuated that Obama's policies had any effect on gasoline prices. You can check my posts on the topic but it would probably be a pain in the ass to find them LOL.

"It's better"? You mean domestic production is better since Obama took office? Yup.

But if you think Obama got the oil and gas companies "working better", I'm honestly curious how. I'm not goading you- I just say that I haven't seen it that way.

I think it's been accomplished with the input of private capital, risk, ingenuity and technology, hard work, and persistence. Obama's stamp isn't anywhere on it.

First off we already export oil. And if you think base production numbers has any bearing on self sufficiency you have no clue how things work. When it comes to Leftytoons and Rightyloons I know it is an effort in futility. But ask your self why if we are producing 83% percent of the oil we need (which is a record btw) are we still paying 300% more per gallon than we were 20 years ago. When you figure it out get back with me lol.

I want someone to explain to me how Obama has hampered energy production in this country.

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He has only hampered oil and gas production (and probably coal) by restricting the practice through regulation on the land he controls, or the laws he wields. He has not hampered other types of energy production, by encouraging and helping out windmill production.

He is discriminatory. That is how he has hampered certain types of energy production.

If you're gonna jump all over him and say that his policies caused the price of gas to go up, then you've also got to acknowledge that his policies are responsible for the increase in production of oil and natural gas.

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Why would anyone assign him the blame, or the credit, for something which he had nothing to do with? For example, the price of gasoline is generally tied to the world price for oil, something Obama has a difficult time affecting, and the price of natural gas is tied to the rapid rampup in production of unconventional sources here in the US. Obama doesn't control the world price of oil, and the rampup in production in the US happened on private land, an item that the President hasn't gotten around to nationalizing quite yet.

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